The three major lithium battery giants in South Korea have all entered the lithium iron phosphate battery market

South Korea's three largest battery manufacturers, SK On, LG Energy Solution and Samsung SDI, have all entered the lithium iron phosphate battery market. LG Energy Solution plans to start producing lithium iron phosphate batteries from October 2023 and will build a lithium iron phosphate battery factory in Morocco with Huayou Cobalt. Samsung SDI is building South Korea's first lithium iron phosphate battery production line at its Ulsan plant.